USD/SGD 1D Chart: Long term crossroads

USD/SGD is one of the slow moving pairs, whose review needs to be done by looking at the longer term. In general the daily chart reveals that the pair has been declining for a very long period of time. However, recently the pair encountered a support level, which might mark a change.

A channel up pattern of the same size as the previously active channel down pattern has been revealed. Although, whether the previous patterns resistance does not held still needs to be seen.

Meanwhile, in the short term traders should watch the two junior patterns, which can be seen on the chart,